BSE: 532992
CHL LTD.
Runs a hospitality business through a standalone property, Hotel The Suryaa in New Delhi, and through a Tajikistan subsidiary, CJSC CHL International. Hospitality is the sole reporting segment, accounting for 100% of FY26 standalone segment revenue of ₹109.42 crore. On a consolidated basis, FY26 revenue reached ₹165.15 crore, with the Tajikistan subsidiary contributing the bulk of the gap above the standalone number. Employee cost is the largest identifiable expense at 29.2% of revenue, followed by other operating expenses at 49.3%, depreciation at 11.0%, and materials at 9.6%. FY26 results were hit by a one-time ₹10.62 crore property tax charge at the Delhi hotel following a Delhi High Court order, and by ₹3,045.12 lakh of currency translation losses at the Tajikistan subsidiary over the nine-month period. The auditor has flagged ongoing EXIM Bank guarantee litigation tied to the subsidiary's USD 34 million one-time settlement, and a ₹529.07 crore revaluation of the foreign subsidiary's leasehold building was credited to revaluation reserve. Total assets stood at ₹914.04 crore at FY26 end. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hospitality (100%). Asset-heavy, single-segment hospitality operator with a domestic flagship hotel and a foreign subsidiary.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 55 | 114 | 126 | 138 | 139 |
| EBITDA (ex other income) | 5 | 27 | 32 | 30 | 16 |
| margin % | 9.7 | 23.5 | 25.6 | 21.8 | 11.8 |
| Owners' profit | 0 | 0 | 10 | 0 | 0 |
| EPS, as reported (₹) | (5.71) | 6.08 | 1.14 | 1.24 | 5.50 |
| ROE % · ROCE % | 33.5 · (0.8) | 9.2 · 8.4 | (13.5) · 21.7 | 2.2 · 16.3 | 0.1 · 3.8 |
| Debt / equity (x) | (5.59) | (3.46) | (3.52) | (3.16) | 0.62 |
| Cash from operations | 18 | 52 | 16 | 53 | 43 |
| Capex | (2) | (3) | (10) | (7) | (559) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29 | 34 | 39 | 35 | 31 | 32 | 41 | 35 |
| Profit before tax | (2) | (0) | 5 | 2 | 1 | (13) | 7 | 12 |
| Net profit | (3) | (2) | 1 | (1) | (1) | (12) | 4 | 9 |
| EPS (₹) | (1.38) | (0.59) | 0.38 | 0.36 | 0.89 | 5.00 | 1.29 | 1.59 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE INDIAN HOTELS CO. LTD | 1,14,612 | 53.4 | 7.67 | 30.4 | 15.0 | 16.2 | 43.8 | 32.2 |
| ITC HOTELS LIMITED | 34,265 | 39.5 | 2.93 | 22.3 | 7.0 | 9.0 | — | 37.5 |
| LEELA PALACES HOTEL LTD | 20,355 | 33.6 | 3.15 | 27.0 | 6.2 | 5.9 | — | 43.2 |
| EIH LIMITED | 18,260 | 25.7 | 3.38 | 17.1 | 12.2 | 14.9 | 42.7 | 31.6 |
| CHALET HOTELS LIMITED | 17,481 | 33.1 | 4.73 | 16.0 | 17.4 | 13.6 | 56.6 | 45.5 |
| VENTIVE HOSPITALITY LTD | 12,684 | 26.4 | 1.88 | 11.2 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,500 | 36.1 | 4.09 | 15.7 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,172 | 63.1 | 12.59 | 42.2 | 20.0 | 26.6 | 24.7 | 17.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.0 | 25.7 | 3 of 57 | 96% |
| P/B | 0.3 | 1.6 | 3 of 57 | 96% |
| ROCE | 1.0 | 4.9 | 48 of 65 | 27% |
| ROE | 0.1 | 6.3 | 46 of 57 | 20% |
| Debt / Equity | 0.6 | 0.2 | 41 of 57 | 29% |
| EBITDA margin | 61.4 | 29.5 | 9 of 58 | 86% |
| Revenue growth | (0.6) | 7.6 | 44 of 58 | 25% |
| Profit growth | 831.1 | 11.6 | 1 of 55 | 100% |
| Market cap | 145 | 246 | 40 of 66 | 40% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Special window opened for re-lodging physical share transfer requests | compliance | minimal | — | — |
| 23 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 16 Oct 2026 · Compliance certificate for dematerialization of securities for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · CHL Limited closes trading window ahead of Q2 and H1 FY27 results | compliance | minimal | — | — |
| 4 Sept 2026 · CHL 47th AGM: All Three Resolutions Passed With 99.99 Percent Approval | board shareholder meetings | low | — | — |
| 4 Sept 2026 · CHL 47th AGM: All three resolutions passed with over 99.99 percent majority | compliance | minimal | — | — |
| 3 Sept 2026 · CHL Limited holds 47th AGM via video conferencing, passes 3 resolutions | board shareholder meetings | low | — | — |
| 21 Aug 2026 · RBI compounding order for FEMA contravention; about Rs 1.56 crore payable | regulatory legal | high | — | — |
| 12 Aug 2026 · Independent Director Alkesh Tacker completes tenure at CHL Limited | management changes | medium | — | — |
| 8 Aug 2026 · CHL Limited 47th AGM notice including book closure and e-voting details | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.